A mutual insurer - Study guides, Class notes & Summaries
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West Virginia Insurance Property & Casualty Exam | 200 Questions with 100% Correct Answers | Verified | Latest Update 2024
- Exam (elaborations) • 21 pages • 2024
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a domestic user will be examined by the commissioner at least once every ___ - 5 years. 
an insurance company owned by its policyholder is known as ___ - mutual insurance company. 
an insurance company headquartered in ohio, conducting business with west virginia is know as ___ - 
foreign insurer. 
agent wilson strikes a deal with his client: if the client agree to purchase homeowners insurance from 
agent wilson, wilson will waive the clients first premium payment. wilson is guilty of ___ - reb...
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Adjuster Pro - Insurance adjuster test latest 2023 already passed
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Adjuster Pro - Insurance adjuster test latest 2023 already passed What is insurance? protection against financial loss 
what is a premium a scheduled amount to be paid for an insurance policy. 
What are premiums used for premiums are collected into a "pool" or "reserve to pay out claimants when needed. 
how can insurance companies afford to pay for an individuals catastrophic loss? the insurer collects premiums from all policy holders and uses them to pay out the claims of a few. 
what is Ind...
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NC Life Insurance Practice Exam Questions and Answers Already Passed
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NC Life Insurance Practice Exam Questions and Answers Already Passed 
All of the following are included within the Insurance Commissioner's duties EXCEPT 
a) Conducting investigation of all domestic insurers. 
b) Reviewing the insurers' annual reports. 
c) Writing North Carolina insurance laws. 
d) Reporting any violations of insurance laws to the Attorney General. Writing insurance law is not the Insurance Commissioner's responsibility, but enforcing the law is. c) Writing North Carolina ins...
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XCEL Final Exam California Life Insurance Exam Questions and Answers 2024
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A savings vehicle designed to first accumulate funds and then systematically liquidates the funds is called a(n) - Deferred Annuity 
 
Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? - 60 Payments 
 
What distinguishes a deferred annuity from an immediate annuity? - The time at which benefit payments start 
 
The systematic liquidation of a sum of money...
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GA Life Insurance Exam 2024 with 100% correct answers
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Who elects the governing body of a mutual insurance company? - correct answer policyholders 
 
What year was the McCarran-Ferguson Act enacted? - correct answer 1945 
 
A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members is known as: - correct answer a fraternal benefit society 
 
The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called: - corr...
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Louisiana Personal Lines Insurance Exam Already Graded A+
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Louisiana Personal Lines Insurance Exam Already Graded A+ 
104. Coverage for loss by some perils under a building and personal property form is suspended if 
(Choose from the following options) 
1. An uninsured peril causes a partial loss. 
2. The insured building is vacant for over 60 days. 
3. A loss occurs while a hazard beyond the insured's control is increased. 
4. The insured fails to satisfy the coinsurance provision ️2. The insured building is vacant for over 60 
days 
107. In...
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FLORIDA LIFE INSURANCE/ ANNUITIES 2-14 STUDY SET EXAM WITH CORRECT ANSWERS
- Exam (elaborations) • 10 pages • 2023
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FLORIDA LIFE INSURANCE/ ANNUITIES 
2-14 STUDY SET EXAM WITH CORRECT 
ANSWERS 
Which of the following individuals MUST be licensed as an agent? - CORRECT 
ANSWER-A person who places insurance on behalf of anyone seeking insurance. 
Which of the following statements regarding a nonresident insurance agent is 
CORRECT? - CORRECT ANSWER-The agent must hold a similar license in their state 
of residence 
State insurance laws specifically allow the Commissioner(or Director) to issue a 
temporary...
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Aflac Final Exam Questions & Answers Already Graded A+
- Exam (elaborations) • 10 pages • 2024
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Certain conditions, such as dismemberment or total and permanent blinds, will automatically qualify the 
insured for full disability benefits. Which disability policy provision does this describe? - 
presumptive disability 
Which provision concerns the insured's duty to provide the insurer with reasonable notice in the event 
of a loss? - notice of claim 
Because an insurance policy is a legal contract, it must conform to the state laws governing contracts 
which require all of the following el...
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NEW JERSEY LIFE AND HEALTH FINAL EXAM
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Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? - Answer-Home health care 
 
Which of the following is NOT a federal requirement of a qualified plan? - Answer-Employee must be able to make unlimited contributions 
 
Why are dividends from a mutual insurer not subject to taxation? - Answer-Because dividends are considered to be a return of premium 
 
The treasurer of XYZ Insurance Company discovers that the t...
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Michigan Property & Casualty Exam 2023/2024 with Complete Solutions
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Indemnity - ANSWER-a payment for damages or loss 
 
Risk - ANSWER-Uncertainty or chance of loss occurring 
 
Pure Risk - ANSWER-Presents the chance of loss with no opportunity for gain 
 
Speculative Risk - ANSWER-Presents the chance of loss with an opportunity to gain (Like Gambling) 
 
Exposure - ANSWER-a unit of measurement used to determine rates charged for insurance coverages. 
 
Hazards - ANSWER-Conditions or situations that increase the probability of an insured loss occurring. 
 
Peril ...
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